CR Crew Energy Inc

NOT FOR DISSEMINATION IN THE UNITED STATES - FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW


Crew Energy Inc. (TSX:CR) ("Crew" or the "Company") announces that it has
entered into an agreement with a syndicate of underwriters to issue C$150
million in aggregate principal amount of 8.375% per annum, 7-year senior
unsecured notes (the "Notes"). The Notes will be direct senior unsecured
obligations of Crew ranking equal with all other present and future senior
unsecured indebtedness of Crew. The Notes were offered in each of the provinces
and territories of Canada on a private placement basis in accordance with
National Instrument 45-106 - Prospectus and Registration Exemptions, without the
filing of a prospectus (the "Offering"). Closing of the Offering is expected to
occur on or about October 21, 2013, subject to satisfaction of customary
conditions. 


Crew intends to use the net proceeds from the issuance of Notes for a
non-permanent repayment of indebtedness under its existing credit facility and
for general corporate purposes.


TD Securities Inc., GMP Securities L.P. and Scotia Capital Inc. are acting as
joint book runners and co-lead managers.


This news release does not constitute an offer of the Notes for sale in the
United States. The Notes have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act"),
and may not be offered or sold in the United States absent registration or an
exemption from the registration requirement of that Act. This news release shall
not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the Notes in any jurisdiction in which such offer,
solicitation or sale would be unlawful.


Crew is an oil and gas exploration and production company whose shares are
traded on the Toronto Stock Exchange under the trading symbol "CR". 


Reader Advisory:

This News Release contains forward-looking information that involves various
risks, uncertainties and other factors. All information other than statements of
historical fact is forward-looking information. The use of any of the words
"anticipate," "plan," "continue," "estimate," "expect," "may," "will,"
"project," "should," "believe," "predict," "pursue" and "potential" and similar
expressions are intended to identify forward-looking information. The
forward-looking information is not historical fact, but rather is based on the
Company's current plans, objectives, goals, strategies, estimates, assumptions
and projections about the Company's industry, business and future financial
results. This information involves known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ materially from
those anticipated in such forward-looking information. No assurance can be given
that these expectations will prove to be correct and such forward-looking
information included in this News Release should not be unduly relied upon. This
information speaks only as of the date of this News Release. In particular, this
News Release contains forward-looking information including but not limited to
completion of the Offering on the terms anticipated, or at all, the timing
thereof and the use of proceeds therefrom. Such forward-looking information is
based on certain assumptions and analysis made by Crew in light of its
experience and perception of current conditions and expected future developments
as well as other factors it believes are appropriate in the circumstances.
However, whether actual results, performance or achievements will conform to
Crew's expectations and predictions is subject to market conditions and a number
of known and unknown risks and uncertainties which could cause actual results to
differ materially from Crew's expectations. Such factors may include the failure
to satisfy certain conditions in connection with the issuance of the notes.
Other factors which could materially affect such forward-looking information are
described in the risk factors in the Company's most recent annual information
form that is available on SEDAR at www.sedar.com. The forward-looking statements
included in this News Release are expressly qualified by this cautionary
statement. Crew does not undertake any obligation to publicly update or revise
any forward-looking statements except as required by applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Crew Energy Inc.
Dale Shwed
President and C.E.O.
(403) 231-8850
dale.shwed@crewenergy.com


Crew Energy Inc.
John Leach
Senior Vice President and C.F.O.
(403) 231-8859
john.leach@crewenergy.com


Crew Energy Inc.
Rob Morgan
Senior Vice President and C.O.O.
(403) 513-9628
rob.morgan@crewenergy.com

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